IRHYTHM TECH (NASDAQ:IRTC) Director Raymond W. Scott Sells 52,903 Shares
IRHYTHM TECH (NASDAQ:IRTC) Director Raymond W. Scott sold 52,903 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $43.59, for a total value of $2,306,041.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
IRHYTHM TECH (NASDAQ IRTC) traded up 1.36% during mid-day trading on Tuesday, hitting $43.84. The company had a trading volume of 245,276 shares. IRHYTHM TECH has a 12 month low of $22.16 and a 12 month high of $45.42. The company has a 50-day moving average price of $41.59 and a 200 day moving average price of $36.87. The firm’s market capitalization is $980.35 million.
IRHYTHM TECH (NASDAQ:IRTC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.02. IRHYTHM TECH had a negative return on equity of 98.97% and a negative net margin of 27.34%. The company had revenue of $23.85 million during the quarter, compared to analyst estimates of $22.10 million. IRHYTHM TECH’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities analysts forecast that IRHYTHM TECH will post ($1.14) EPS for the current fiscal year.
WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/08/08/irhythm-tech-nasdaqirtc-director-raymond-w-scott-sells-52903-shares.html.
Large investors have recently bought and sold shares of the company. TimesSquare Capital Management LLC purchased a new stake in IRHYTHM TECH during the first quarter valued at approximately $27,746,000. Bank of New York Mellon Corp raised its stake in IRHYTHM TECH by 2,702.1% in the second quarter. Bank of New York Mellon Corp now owns 607,054 shares of the company’s stock valued at $25,794,000 after buying an additional 585,390 shares during the period. Marshall Wace North America L.P. purchased a new stake in IRHYTHM TECH during the second quarter valued at approximately $21,300,000. Vanguard Group Inc. raised its stake in IRHYTHM TECH by 290.4% in the first quarter. Vanguard Group Inc. now owns 305,244 shares of the company’s stock valued at $11,477,000 after buying an additional 227,050 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in IRHYTHM TECH during the second quarter valued at approximately $8,415,000. Institutional investors own 59.19% of the company’s stock.
IRTC has been the subject of several research analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $42.00 target price on shares of IRHYTHM TECH in a research report on Friday, May 5th. Zacks Investment Research cut IRHYTHM TECH from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley increased their target price on IRHYTHM TECH from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. IRHYTHM TECH presently has a consensus rating of “Hold” and an average target price of $37.75.
About IRHYTHM TECH
iRhythm Technologies, Inc is a United States-based digital health company. The Company develops and commercializes solutions that integrate biosensor technology, patient data, analytics and medical expertise. The Company offers flagship solution, the ZIO Service. Its ZIO Service consists of the ZIO XT Patch, algorithms and the ZIO Report.
Receive News & Ratings for IRHYTHM TECH Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IRHYTHM TECH and related companies with MarketBeat.com's FREE daily email newsletter.